Enterprise Financial News

₹9,650 crore and was approved by a majority of the lenders. The plan has to be implemented within 90 days of the date of the order. According to the Irdai letter, during the meeting on 12 December, the administrator was “requested to arrange the details of proposed transferee IIHL, IIHL BFSI (India) and AELLP (Aasia Enterprise LLP)".

1. ATPOS 58MM (2 Inch) USB Bluetooth H-58BT Thermal Receipt Printer This mobile printer can print billing invoices from ESC/POS systems and is compatible with mobile printing. Thanks to its USB and Bluetooth connection, it guarantees smooth printing from a variety of devices without requiring a battery backup.

Women are now not only running startups but are also increasingly occupying positions on company boards, said finance minister Nirmala Sitharaman in New Delhi. «In 2018, only 13.8% of women were reaching the boards; today, that figure has gone up to 18.3%,» she said on Tuesday. According to Sitharaman, out of the 111 unicorns created in India, 20 of them have women in leadership positions.

NEW DELHI : Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% majority stake in Kisan Mouldings Ltd (KML) for ₹118.40 crore, aiming to bolster its position in the PVC pipes and fittings sector. In an exchange filing on Tuesday, Apollo Pipes said that it secured the stake via a preferential issue of 6,40,00,000 equity shares, priced at ₹18.50 per share with a face value of ₹10 each. This capital infusion has led to Kisan Mouldings becoming a subsidiary of Apollo Pipes.

Rajshree Sugars & Chemicals Ltd.(up 3.84%), Simbhaoli Sugars Ltd.(up 3.76%), Uttam Sugar Mills Ltd.(up 1.64%), Bannari Amman Sugars Ltd.(up 0.60%), KCP Sugar & Industries Corporation Ltd.(up 0.30%), Sakthi Sugars Ltd.(up 0.17%), Dwarikesh Sugar Industries Ltd.(up 0.14%), Shree Renuka Sugars Ltd.(up 0.13%) and Triveni Engineering & Industries Ltd.(up 0.11%) were among the top gainers.

Steel Authority of India (SAIL) stock is under the F&O trade ban on Wednesday. The MWPL for SAIL stood at 86.2% on Tuesday with OI reported by Trendlyne at 58.3 million. It was down 10.5% from the previous session.

Angel One: On March 26, the company announced the launch of a Qualified Institutional Placement (QIP) issue with a base price of ₹2,555 per share, which is approximately 7% lower than the current market price. Today, Angel One's shares closed at ₹2,750 each on the NSE, marking a 3.36% increase. The company stated in an earlier stock exchange filing that the objective of this fundraising is to enhance financial flexibility, grow the business, and leverage emerging opportunities within the existing and growing broking business as well as the broader fintech space.

NEW DELHI : Actis Llp’s BluPine Energy, Singapore’s Sembcorp Industries Ltd, Edelweiss Infrastructure Yield Plus Fund’s Sekura Energy, Torrent Power and JSW Group are exploring to buy Brookfield Renewable’s 1.6 gigawatt (GW) portfolio in India, two people aware of the development said. The deal is expected to have an equity value of around $800 million. JP Morgan is running the sale process for the 1.6 GW capacity, of which 1 GW is operational, while the balance 600 MW is under execution.

initial public offering for its Cainiao logistics arm, shelving a much-anticipated debut that could have raised more than $1 billion. China’s e-commerce pioneer decided to postpone the transaction because of poor market conditions, people familiar with the matter said. It lost its taste for the deal this year as stocks waned, the people said, asking to remain anonymous discussing a private matter.

Mumbai has displaced Beijing as Asia's city with the largest number of billionaires, according to Hurun Global Rich List 2024. This ticker-tape news comes as Indian stock markets powered ahead on a robust post-Covid recovery, while China is struggling to raise economic growth. The reordering is unlikely to be permanent, because India's market capitalisation-to-GDP ratio is in overvalued territory, while it is undervalued in China.

Rail Vikas Nigam Ltd saw a 7.2% surge in its shares on Tuesday, March 26, following its agreement valued at ₹229 crore with the Airports Authority of India (AAI). In a recent filing with the exchange, the company disclosed the execution of a Memorandum of Understanding (MoU) with the Airports Authority of India. This MoU is geared towards streamlining the development of a subway or underpass, intended to link the operational area to the residential colony of the statutory body in Kolkata.

Zee Entertainment Enterprises has formed a committee that reviewed its management's business performance and provided guidance, the beleaguered broadcaster said on Tuesday. Businesses identified by the committee that need to «substantially» reduce losses include Zee's television channel 'Zindagi', the company's English cluster of linear TV business, and server technology company Margo Networks. The move comes after Zee has had entertainment deals fizzle out in recent months, with a $10 billion merger with the Indian unit of Japan's Sony scrapped and a $1.4 billion cricket broadcasting agreement with the Walt Disney -owned Star India that Zee quit.

₹1.19 in March 2020 to around ₹28.8 currently. This implies a return of almost 2337%. An investment of ₹1 lakh in this stock in March 2020 would have turned into over ₹24 lakh now.

United States. The manner in which the terminations were carried out has raised eyebrows and reignited discussions around appropriate layoff etiquette.

Adani Ports and Special Economic Zone said on Tuesday it will buy a 95 percent stake in Odisha's Gopalpur Port for an equity value of 13.49 billion rupees ($161.74 million) to bolster its east coast presence. Adani Ports will purchase a 56 percent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 percent stake from Orissa Stevedores.

entrepreneurship. Students simultaneously get exposure to real-world challenges and theoretical knowledge which enable them to either become ‘job ready’ or ‘job creators’. In Odisha, the Centurion University of Technology and Management claimed to be an “entrepreneurial university" and a “hub of industries" where students manage over 30 in-house production units across various sectors like technology, engineering, agriculture, aerospace, recycling, pharmacy, and more.

Vehicle loan pools are expected to maintain stable performance in the medium term because of the strong domestic cycle and efforts of financiers to ramp up collections, rating agency Icra said on Thursday, adding that the impact of fluctuations in global fuel prices will be a key monitorable.

Alongside Nvidia (NASDAQ:NVDA), Super Micro Computer (NASDAQ:SMCI) is the company that has been capturing the most attention within the artificial intelligence (AI) space this year, thanks to a meteoric rise in its share price. Despite breakneck gains, JPMorgan analysts said in their fresh coverage that they see more upside potential in the SMCI stock.

BENGALURU : Amid a downturn in the software-as-a-service (SaaS) market, marked by declining sales and delayed purchases, innovation-led differentiation has emerged as a key challenge for most SaaS firms, globally, including in India, a top executive at Lightspeed said in an interview. Hemant Mohapatra, a partner at Lightspeed, focussing on SaaS, enterprise infrastructure, crypto, and space and satellite investments, said with rising competition, the sector has become crowded with “hundreds, if not thousands, of companies going after the same set of customers". Around 80% of the SaaS market is now saturated, with every category witnessing several alternatives over the past two decades of the internet, he added.

IT Services providers have been experiencing low demand amid macroeconomic uncertainty, with not many stocks in the sector offering near-term upside to consensus figures. Against this backdrop, analysts at Guggenheim shared in a note this week a list of the Best IT Services stocks to own for 2024.

National Company Law Tribunal (NCLT) recently adjourned the hearing of an application in cable TV distribution company Siti Networks' insolvency resolution matter to April 3. Before that, the bench, comprising judicial member Lakshmi Gurung and technical member Charanjeet Singh Gulati, observed that various applications were pending, highlighting irregularities in the process and the change in the date of the start of the resolution process. Hence, all the material decisions of the process and the committee of creditors would be subject to the tribunal's final order on the pending applications, the NCLT said. The application was moved by the suspended board of directors of the company which has contested the timeframe set by the resolution professional. Siti was admitted to the corporate insolvency resolution process in February 2023, with Rohit Mehra as the resolution professional.